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The German bank will take about twice as much space in the YY building on South Colonnade as Revolut, the report said, citing people familiar with the matter.

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Deutsche Bank declined to comment on the report. Canary Wharf Group referred Reuters to asset manager Oaktree Capital Management, which owns the building, when asked for a comment. Oaktree declined to comment.

Oaktree bought the building in a joint venture with real estate firm Quadrant Estates in 2019, according to Quadrant’s website. Quadrant could not be reached for comment.

($1 = 0.7502 pounds)

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Accenture (ACN) has been grinding higher recently, with the stock up about 7% over the past month despite a rough year for shareholders. That move has investors rechecking whether today’s price still lines up with fundamentals.

See our latest analysis for Accenture.

The recent rebound follows a tough stretch, with a negative year to date share price return and a roughly 12 month total shareholder return still in the red. This hints that sentiment is improving but not fully repaired.

If Accenture has you rethinking your tech exposure, this could be a good moment to explore high growth tech and AI stocks for other potential opportunities riding similar digital transformation themes.

With earnings still growing and the share price lagging its recent peak, investors now face a key question: is Accenture quietly offering value at today’s levels, or is the market already pricing in its next leg of growth?

According to FCruz, the narrative implies a fair value well below Accenture’s last close of $266.59, setting up a tension between quality and price.

Bottom line (fundamental stance) I’m moderately constructive over 12 to 18 months. Accenture combines (i) scaled exposure to GenAI-led reinvention with tangible bookings, (ii) high-quality margins, returns, and FCF, and (iii) a reset valuation near historical norms. The near-term swing factor is bookings momentum; if that stabilizes or improves, upside to the Street’s mid-30s EPS multiple case becomes more plausible.

Read the complete narrative.

Want to see how modest revenue growth, steady margins and a premium future earnings multiple still argue for a much lower fair value than today? The full narrative walks through those moving parts step by step, but keeps one core valuation lever front and center. Curious which assumption does most of the heavy lifting, and how sensitive the outcome is if it shifts?

Result: Fair Value of $202.38 (OVERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, persistent weakness in bookings or a sharper slowdown in consulting spend could quickly challenge the case for Accenture’s current premium valuation.

Find out about the key risks to this Accenture narrative.

While the most popular narrative sees Accenture as roughly 31.7% overvalued, our valuation work using a simple earnings multiple lands in a different place. At 21.5 times earnings, the stock trades well below the US IT industry average of 30.3 times and peers at 25.3 times, and also below a fair ratio of 36.7 times that the market could drift toward over time.

That gap suggests investors are paying a noticeable discount for a business with high quality earnings and strong returns on equity, which could limit downside if growth stays steady. However, it also raises a tougher question: what if the market never fully closes that valuation gap?

See what the numbers say about this price — find out in our valuation breakdown.

If you see the story differently or prefer your own due diligence, you can build a personalized view in just minutes with Do it your way.

A good starting point is our analysis highlighting 5 key rewards investors are optimistic about regarding Accenture.

Before you move on, lock in an edge by scanning fresh opportunities with the Simply Wall Street Screener so your next decision is intentional and not reactive.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ACN.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Story Continues

Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for First Quantum Minerals.

For cyclical and capital intensive businesses like miners, price to sales is often a more reliable yardstick than earnings based multiples, because profits can swing wildly with commodity prices while revenue tends to be more stable and reflective of underlying scale.

In general, faster expected growth and lower perceived risk justify a higher price to sales multiple, while slower growth or elevated risk warrant a discount, so there is no single “right” number that fits every company or cycle.

First Quantum Minerals currently trades at about 3.98x sales, a shade below the Metals and Mining industry average of roughly 6.41x and slightly under the 4.12x peer group average. This suggests the market is still assigning it a modest discount despite the strong share price performance.

Simply Wall St’s proprietary Fair Ratio framework estimates what a reasonable price to sales multiple should be for First Quantum, given its growth outlook, margins, industry, size and risk profile. This approach is more tailored than simple peer comparisons because it adjusts for company specific strengths and weaknesses.

On this basis, First Quantum’s Fair Ratio comes out at about 4.42x, which sits above the current 3.98x sales. This indicates the shares still screen as undervalued on a sales multiple basis.

Result: UNDERVALUED

PS ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1442 companies where insiders are betting big on explosive growth.

Earlier we mentioned that there is an even better way to understand valuation, so let us introduce you to Narratives, a simple way to connect your view of First Quantum Minerals with the numbers behind it. A Narrative is your story for the company, where you spell out how you think its revenue, earnings and margins will develop, and link that story directly to a financial forecast and then to a fair value estimate. On Simply Wall St’s Community page, used by millions of investors, Narratives are an easy to use tool that help you assess opportunities by constantly comparing your fair value view to the current share price. They update dynamically as new information such as news or earnings is released, so your investment thesis does not sit still while the world moves on. For example, one Narrative for First Quantum Minerals might assume strong copper demand and place fair value far above today’s price, while another builds in higher political and project risk and concludes that the stock is already fairly valued.

Do you think there’s more to the story for First Quantum Minerals? Head over to our Community to see what others are saying!

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include FM.TO.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com